Talos Energy is back in the news again and for good reasons. The Houston-based oil company and gas company has just pulled-off an amazing deal with Stone Energy Corporation. This particular deal is an actual merger because Stone Energy has filed for bankruptcy. The negative price collapse of oil in 2015 could be responsible for Stone Energy’s fall, but it wasn’t the only oil and gas company who felt the pinch. On the other hand, Talos Energy is still going strong as it has many new projects on the way. As of now, the industry has made a dramatic change as oil prices have rebounded to an estimated $60 per gallon. Thanks to Tim Duncan, CEO of Talos Energy, Stone Energy will combine its services with the Houston-based juggernaut.
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— talosenergy (@talosenergyllc) February 12, 2013
A lot of time and a lot of money has gone into acquiring Stone Energy Corp. Duncan is the head man in charge of this project, and he has the educational background to make things happen. This phenomenal CEO has spent the last four months trying complete the merger. Of course, the deal was finalized as Talos Energy shelled out an estimated $2.5 billion. That’s right! “Shareholders will directly benefit from our increased scale and liquidity,” said Duncan. Having a forward-thinking leader that doesn’t mind taking chances can certainly pay off, and Duncan has a brilliant resume of taking chances. The same thing happened with Cabot Oil and Gas Corporation as one of its oil platforms capsized in 2005. Duncan used his business sense to acquire the platform and as of today, this platform has became Talos’ biggest asset earner.
The Zama-1 field project will be the first foreign offshore drilling platform that’s off the coast of Mexico. These waters have been closed for over 70 years, but Zama-1 has the potential to create long-term success.
Learn More: www.crunchbase.com/organization/talos-energy